The Manufacturers Life Insurance Company Makes New $699,000 Investment in AtriCure, Inc. $ATRC

Key Points

• The Manufacturers Life Insurance Company opened a new AtriCure position, purchasing 24,985 shares valued at approximately $699,000. Institutional investors and hedge funds collectively own 99.11% of the company.
• Analyst sentiment remains positive but mixed: AtriCure has a “Moderate Buy” consensus rating and an average price target of $52, with targets ranging from UBS’s reduced $50 to BTIG’s increased $55.
• AtriCure reported quarterly EPS of $0.18 and revenue of $153.6 million, exceeding the revenue consensus estimate. Shares opened at $51.52, near the company’s 52-week high, while insiders have sold $2.56 million of stock over the past 90 days.

The Manufacturers Life Insurance Company purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,985 shares of the medical device company's stock, valued at approximately $699,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company's stock worth $46,000 after buying an additional 429 shares during the period. Scotia Capital Inc. grew its stake in AtriCure by 1.2% in the third quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company's stock valued at $1,328,000 after acquiring an additional 457 shares during the period. ProShare Advisors LLC increased its holdings in shares of AtriCure by 6.6% in the fourth quarter. ProShare Advisors LLC now owns 8,819 shares of the medical device company's stock worth $349,000 after acquiring an additional 543 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of AtriCure by 7.9% in the fourth quarter. Captrust Financial Advisors now owns 7,944 shares of the medical device company's stock worth $314,000 after acquiring an additional 579 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of AtriCure by 5.3% during the fourth quarter. Mackenzie Financial Corp now owns 13,597 shares of the medical device company's stock worth $545,000 after purchasing an additional 683 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group cut their price objective on AtriCure from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Citigroup reaffirmed a "market outperform" rating on shares of AtriCure in a research note on Tuesday, July 21st. BTIG Research increased their price objective on shares of AtriCure from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Weiss Ratings upgraded shares of AtriCure from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. Finally, Zacks Research cut shares of AtriCure from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.00.

Insider Activity

In other news, insider Karl S. Dahlquist sold 9,370 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $48.89, for a total transaction of $458,099.30. Following the sale, the insider owned 87,319 shares in the company, valued at $4,269,025.91. This represents a 9.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Maggie Yuen sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $38.42, for a total value of $134,470.00. Following the completion of the sale, the director directly owned 14,015 shares of the company's stock, valued at approximately $538,456.30. The trade was a 19.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 61,379 shares of company stock worth $2,557,552. 4.00% of the stock is currently owned by company insiders.

AtriCure Price Performance

Shares of AtriCure stock opened at $51.52 on Monday. The firm has a market cap of $2.62 billion, a PE ratio of 245.35 and a beta of 1.26. The business's 50 day simple moving average is $40.10 and its 200 day simple moving average is $32.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 4.22. AtriCure, Inc. has a 52-week low of $25.36 and a 52-week high of $53.50.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The medical device company reported $0.18 earnings per share for the quarter. The firm had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.80 million. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.During the same quarter in the prior year, the firm posted ($0.13) EPS. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. On average, analysts predict that AtriCure, Inc. will post 0.29 earnings per share for the current fiscal year.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.

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